rent or sell, that is the question

Rehabbing, Fix and Flip, Rental Properties
1

Hello to everybody, i have a dilema, and i need some wise advise, its

probably very obvious, but for some reason im having a hard time
making this desision:
Im about to rehab a house in a great location, purchase price
$100,000, ( i havent ask for the loan yet) if i sell it, needs $30,000 in repairs, but if i keep it as
a rental needs $20,000, ARV = $190,000, now…

I dont know if i should sell it or rent it out ($895 area rents) , i
might move to another state , and if i hire a managment company i’ll
end it up even, but ill keep the good equity… so the question
is… to sell or to keep?, i thought asking you guys for a good
advise and point of view…i appreciate it…
Thanx and Happy holidays!!!

2

I think I’m having a Deja Vu,

SELL IT! This is a LOSER as a rental!

Here are the real world numbers:

Rent (Rounded up) $900
Operating Expenses - $450
Mortgage 30 yr, 8% - $880
------------

Monthly LOSS $430 OUCH!

I’d definitely sell it!!!

Mike

3

That rent sound really low for a $190k house. In my town generally houses that retail for $100k rent for $1000/month. That is generally the top of the rental market because $190k houses rent for $1300/month and above $1450 there is really no market. Those guys that can pay $1500/month are buying houses regardless of credit worthiness.